NEW ZEALAND: Comment - Frucor: holding out for a hero

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Frucor has asked its shareholders to reject a takeover bid from Danone. Danone, the dairy and biscuits giant that also happens to be the world's biggest water bottler, could be rebuffed in its attempts to buy New Zealand's Frucor. One factor behind this coolness towards the bid is the low level of the offer. However, Frucor may also be keener to join forces with a company whose strengths are closer to its own development goals.

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